Speaker 1: Hey, everybody, Welcome into The Thinking Crypto Podcasts, your home
Speaker 1: for cryptocurrency news and interviews. I'm your host, Tony Edward.
Speaker 1: On your way in. Please let that subscribe button as
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Speaker 1: I'm sure many of you heard the FED has cut
Speaker 1: the interest rates by twenty five basis points. This was
Speaker 1: expected the FED features and many market participants expected this.
Speaker 1: Now we're not seeing any action in the markets, which
Speaker 1: kind of makes sense because, as I've been telling you guys,
Speaker 1: this is not some fundamental market thing. I think it's
Speaker 1: good from a psychological standpoint for retail, but for the
Speaker 1: markets to actually get going, this is not the catalyst,
Speaker 1: per se. But what is, and as I've been sharing
Speaker 1: with you guys, global liquidity has broken that down trend.
Speaker 1: It is hitting new all time highs and the markets
Speaker 1: are following, of course, so we got to just let
Speaker 1: the markets do their thing. I've been saying there could
Speaker 1: be one more flesh out before we start rallying, but
Speaker 1: I'm expecting the second half of September which you know,
Speaker 1: we're past the middle of the month to be better,
Speaker 1: I think we start climbing after maybe a flush out,
Speaker 1: and then October we start hitting new highs. We got
Speaker 1: a lot of big narratives lined up, like cryptal legislation
Speaker 1: and much more so stay patient, guys, don't be emotional,
Speaker 1: be educated. We're watching the different metrics and signals and
Speaker 1: we're still in a bull market, but we got huge news,
Speaker 1: you know, speaking of narratives. And here Charles Hoskinson, founder
Speaker 1: of Cardono, said today, great meeting today XRP Nation. The
Speaker 1: Ripple folks did really well, as did A sixteen Z.
Speaker 1: A lot more work to do, but great progress is
Speaker 1: being made on bipartisan legislation being passed this year. What
Speaker 1: is he talking about, Well, there was a banking GOP
Speaker 1: roundtable that was held this morning and in addition to
Speaker 1: Charles's Hawsinson folks from Ripple, A sixteen Z and Kraken
Speaker 1: and coinbas Multi coincap Paradigmic Circle, we're also in attendance.
Speaker 1: The meeting lasted about an hour and a half and
Speaker 1: focus on refining language in the Market Structure draft. So
Speaker 1: of course the market Structure bill is named the Clarity Act,
Speaker 1: and that is being worked on in the Senate right now.
Speaker 1: It has to go through its different hurdles, of course,
Speaker 1: and we're hoping this thing can get pass late October,
Speaker 1: maybe into early November. This is what I'm hearing from
Speaker 1: people in DC. I'm actually going to be interviewing Congressman
Speaker 1: tom Ember tomorrow, so I'll try to get you, guys,
Speaker 1: you know the details directly from the sources here. But
Speaker 1: great to see the industry weighing in on these bills
Speaker 1: and pushing Congress to do the right thing here and
Speaker 1: making sure the language is correct. So this is very
Speaker 1: bullish news. And Charles giving a bit of a shout
Speaker 1: out here to the XRP Army because he's had a
Speaker 1: lot of battles with them over the years. But great
Speaker 1: to see the industry coming together. Now. Look at this news.
Speaker 1: The SEC makes Spot crypto ETF listing process easier, approves
Speaker 1: gray scales, large cap crypto fund. This is huge updates, folks.
Speaker 1: Let me give you the details here. So the US
Speaker 1: SEC on Wednesday approve a set of rules for exchanges
Speaker 1: to list exchange traded products holding Spot commodities, including cryptocurrencies,
Speaker 1: without requiring the agency's individual review time. The decision will
Speaker 1: enable exchanges to proceed with the listing of proposed ETFs
Speaker 1: by sidestepping the often lengthy nineteen B rule filing process
Speaker 1: that can take up to two hundred and forty days
Speaker 1: and requires the SEC to actively approve or disapprove an ETF.
Speaker 1: This is huge news. It's going to speed up the
Speaker 1: process and we can see more all coined ETFs get approved,
Speaker 1: so essentially the process will be more streamlined than before.
Speaker 1: ETF issuers will approach exchanges as that New York Stock
Speaker 1: Exchange CBOE with a product idea and desire to list
Speaker 1: their ETF. If the proposed strategy token or combination of
Speaker 1: tokens of the issuers meet the generic listing standard, then
Speaker 1: the exchange can proceed with the listing of the ETF. Again,
Speaker 1: very bullish for the future outlook of all coin ets.
Speaker 1: SEC chair Paul Atkins said the decision was aimed at
Speaker 1: reducing barriers to accessing digital asset products in regulated US markets.
Speaker 1: Here's a quote. By approving these generic listening standards, we
Speaker 1: are ensuring that our capital markets remain the best place
Speaker 1: in the world to engage in the cutting edge innovation
Speaker 1: of digital assets. Alongside the rule change, the agency signed
Speaker 1: off on the Grayscale Large Cap Fund, which tracks the
Speaker 1: following assets Bitcoin, Etheroreum, XRP, Solana, and Cardano. Very bullish news,
Speaker 1: and it improves the prospects of the XRP and Solana
Speaker 1: news to be approved. So, folks, this is bullish. We
Speaker 1: are headed towards the XRP, Salona and other all coin
Speaker 1: ETF approvals. The SEC is making it easier, folks. I
Speaker 1: will be interviewing Commissioner Hester Purse next week. She's going
Speaker 1: to be in my studio in New York City, so
Speaker 1: we're gonna spend some time going over news like this
Speaker 1: and what's the SEC's outlook and next steps and much more.
Speaker 1: But guys, I mean needless to say, this is so bullish.
Speaker 1: Now more bullish news. Rex Osprey is going to launch
Speaker 1: the first US listed ETFs, offering spot exposure to XRP
Speaker 1: and dogecoin tomorrow. Now many of you know we've been
Speaker 1: talking about this. They're doing it in a different way.
Speaker 1: They're using the nineteen forties Act where you can set
Speaker 1: it up as a c corps, So it's not like
Speaker 1: a true spot ETF, not like the current bitcoinery theorem ETF.
Speaker 1: This is a way for them to bypass the current
Speaker 1: long process to get these ETFs live. What we've seen
Speaker 1: those rex osprey, I think they did it for Solona.
Speaker 1: They are trying to convert it to the nineteen thirty
Speaker 1: three set up for Solana, So I think this is
Speaker 1: a smart move on. They're part of get it on
Speaker 1: the market, be the first right, and then try to
Speaker 1: convert it. But you know, I don't know how much
Speaker 1: demand they're going to get because they're not a huge brand,
Speaker 1: they're not black Rock, they'reenough fidelity, they're not bit wise,
Speaker 1: and so on and so forth. So let's see. But
Speaker 1: it's still a big win, right folks. And in addition
Speaker 1: to these ETFs going live, specifically XRP, the CME is
Speaker 1: set to list options for XRP futures on October thirteenth.
Speaker 1: We've seen that the XRP futures listed on the CME
Speaker 1: have been breaking records, and one of the requirements the
Speaker 1: SEC has been looking for is having a futures market live,
Speaker 1: whether it be CME or coinbase or whatever else, because
Speaker 1: they require this for bitcoin and e theorem. So both
Speaker 1: XRP and Salona features will have options on the CME
Speaker 1: on October thirteenth, so this is this bodes well once
Speaker 1: again for the approval of the XRPN salonaspod ets, which
Speaker 1: I think will the first out of the all coin
Speaker 1: group to get approved. And one of the things I've
Speaker 1: been telling people is, look, a lot of folks are
Speaker 1: filing for all coin ETFs, but there's not futures out there,
Speaker 1: so just make sure you set your expectations. The XRP
Speaker 1: and Solana tokens have features markets, especially on the CME,
Speaker 1: so very bullish needs for XRP and Solana and things
Speaker 1: are heating up here. I love what I'm seeing, folks.
Speaker 1: I love what I'm seeing. Now a little bit more
Speaker 1: details or context to the dosee coin and XRP ETFs
Speaker 1: that are going live tomorrow from Bloomberg Intelligence analyst Jane Seyfert.
Speaker 1: He wrote on x that the funds aren't pure spot products.
Speaker 1: Instead their structure to hold XRP and doge directly while
Speaker 1: also investing in other spot ets from outside the US
Speaker 1: to achieve exposure. Their filings also include language that would
Speaker 1: allow the use of derivatives for exposure if needed. Those
Speaker 1: seyfert emphasized that this is not the primary approach. So
Speaker 1: once again, this is under the nineteen forties Act versus
Speaker 1: nineteen thirty three, which the majority of filers are looking
Speaker 1: to get. So very bullish news here for XRP, Solana, dogecoin. Look,
Speaker 1: I'm not a doge coin holder, but you know, certainly
Speaker 1: this is going to help with the narrative and the
Speaker 1: demand from retail and much more so. We're still in
Speaker 1: this bullmarket. We still got ways to go. We haven't
Speaker 1: hit the parabolic euphoric phase yet, but all of these
Speaker 1: things are going to lead us to that, folks, quick
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Speaker 1: So folks check out Uphold once again. Great platform and
Speaker 1: all the links will be in a description. Now this
Speaker 1: is interesting. Circle has expanded USDC to the XDC network.
Speaker 1: So I know some of my viewers and listeners, you
Speaker 1: guys hold XDC in your portfolio. I personally don't, not
Speaker 1: that I'm against XDC, it's just I can't. It's not
Speaker 1: possible to hold every token right and you don't want
Speaker 1: to spread yourself too thin. But XDC network is a
Speaker 1: layer one blockchain which has been around since twenty nineteen.
Speaker 1: It's EVM compared so great to see USDC expanding to
Speaker 1: other blockchains and XDC is getting that stable coin volume,
Speaker 1: so this is really great. Moving ahead, we are getting
Speaker 1: some pushback on the Genius Act from the banking lobby.
Speaker 1: So the banks, you know, one of the things we've
Speaker 1: talked about over the years is that they lobbied Elizabeth
Speaker 1: Warren and Gary Genster to attack this industry. That's why
Speaker 1: that old grandma was so crazy about crypto. Right the
Speaker 1: country has so many other issues and problems, but she's
Speaker 1: forming the anti crypto army. Gary Gentzer going crazy, breaking
Speaker 1: the law and much more. They were being lobbied by
Speaker 1: the big banks, Jamie Diamond and all these guys. Well,
Speaker 1: the Genius Act has been passed obviously, and these banks
Speaker 1: are trying to push back, like trying to say, oh,
Speaker 1: we need to revisit the language in there. The reason
Speaker 1: why they're doing this disruptions at their doorstep. So Blockchain
Speaker 1: CEO Summer Mersinger, she actually wrote an op ed today
Speaker 1: and she said the Genius Act is already law, banks
Speaker 1: shouldn't try to rewrite it now. So one of the
Speaker 1: things they blocked was, you know, you being able to
Speaker 1: get yield four percent and so forth. And the reason
Speaker 1: being is because you can just move your money out
Speaker 1: of checking, put it into stable coins and earn more
Speaker 1: than the BS interests that they're giving you in your
Speaker 1: checking or savings. Right, So this is the disruption that's happening.
Speaker 1: It's clear as day, and they're trying to fight. But look,
Speaker 1: the crypto industry. The bill is already law, and the
Speaker 1: crypto industry is going to fight back. And we see
Speaker 1: this could be a delay tactic as well, because you
Speaker 1: see all the banks are launching crypto trading, their own
Speaker 1: stable coins, they're trying to get things up and running.
Speaker 1: The problem is they don't have the Clarity Act right
Speaker 1: to get a lot of these things into their systems,
Speaker 1: so they're waiting for the legislation. But at the meantime,
Speaker 1: because there's a much more friendlier environment in the United
Speaker 1: States around crypto, more adoption of cryptos happening, so a
Speaker 1: lot of these guys are like, oh my gosh, we
Speaker 1: got to slow this down, right, because a lot of
Speaker 1: firms are tokenized money market funds where you can earn yield,
Speaker 1: So why the hell would you keep your money in
Speaker 1: a savings and checking account. Now, don't get me wrong,
Speaker 1: you need money in your bank account to pay your
Speaker 1: bills and so forth. But my point is the people
Speaker 1: are going to take more of their money out of
Speaker 1: those bank accounts and put it into Web three, DeFi
Speaker 1: and stable couins and much more. So that's why these
Speaker 1: banks are now coming back to the table like, oh,
Speaker 1: we need to revisit it, we need to do this. Yeah,
Speaker 1: get out of here right. Disruption is happening. So I
Speaker 1: love this article by Summer. You guys can certainly check
Speaker 1: it out on coindesk. Now, look at this Bullish paves
Speaker 1: the way for US launch with New York bit license.
Speaker 1: If you guys recall Bullish, the institutional crypto trading platform,
Speaker 1: they just went public. They did an IPO about a
Speaker 1: month ago or a couple of weeks ago. Well, they've
Speaker 1: got the coveted bit license, which is so hard to
Speaker 1: get for many firms in New York. So many of
Speaker 1: you often ask, hey, why can't I access this particular
Speaker 1: exchange or platform in New York? Is because the bit license,
Speaker 1: which is really dumb, So hopefully they remove it. So
Speaker 1: Bullish the digital asset platform and infrastructure provider that debuted
Speaker 1: on the New York Stock Exchange last month has secured
Speaker 1: regulatory approval to expand its operation in the United States,
Speaker 1: a key milestone as exchanges seek a clearer footing in
Speaker 1: one of crypto's most scrutinized markets. Bullish announced Wednesday that
Speaker 1: it's US arm Bullish US Operations, LLC, has been granted
Speaker 1: both a bit license andy money transmission license by the
Speaker 1: New York State Department of Financial Services. The approvals allowed
Speaker 1: a company to offer institutional clients cryptocurrency, spot trading and
Speaker 1: custody services in New York. The on rams being built
Speaker 1: around the globe, but obviously here in the United States
Speaker 1: and New York is a big one because of that
Speaker 1: dumb bit license. But great to see Bullish got this
Speaker 1: and that's certainly a big win for them. Moving ahead,
Speaker 1: p top dot org becomes a validator on four trillion
Speaker 1: dollars Canton Network. Now Canton Network you may recognize because
Speaker 1: I just interviewed the CEO of Digital Asset, the firm
Speaker 1: Digital Asset, which works on the Canton Network. That interview
Speaker 1: was published seven days ago, and I told you, guys,
Speaker 1: Canton Network, keep an eye on this project and I
Speaker 1: may want to invest in the token once it goes
Speaker 1: live because it's being backed by big banks like Goldman
Speaker 1: Sachs and even Citadel and much more. And it's built
Speaker 1: for institutions because it has privacy built in natively, so
Speaker 1: this is great adoption news for them. Having p top
Speaker 1: dot org become a validator on the Canton network is
Speaker 1: a big win for them and launched in May twenty
Speaker 1: twenty three, Canton is a blockchain platform developed to support
Speaker 1: regulated institutions with emphasis on real world assets, tokenization, interoperability,
Speaker 1: and adherence to compliance standard. The move adds p top
Speaker 1: dot org, a staking infrastructure provider that reports managing over
Speaker 1: ten billion dollars in assets across more than forty blockchain networks,
Speaker 1: to a growing list of participants in Canton's eco system.
Speaker 1: Listen to this including Goldman Sachs, JP, Morgan City, Santander,
Speaker 1: Bank of America, HSBC, and BNP parabs. Recognize those name spokes.
Speaker 1: Keep an eye on this project, and like I said,
Speaker 1: I will tell you if I'm going to grab the
Speaker 1: token when this thing goes live. But this is one
Speaker 1: to watch because it's a public blockchain with privacy built in,
Speaker 1: and look at the banks and the people participating, right,
Speaker 1: So it's not I don't think this is on the
Speaker 1: ratear many crypto investors and people in the industry, I
Speaker 1: don't think they're paying attention. But I'm sharing it with you. Now, Obviously,
Speaker 1: do your own research. This is not financial advice. I'm
Speaker 1: just giving you the facts. I'm pointing you in the
Speaker 1: direction of the facts and who's adopting the big names
Speaker 1: and much more. So again, do your own research. Now,
Speaker 1: Forward Industri's eyes up to four billion dollars share sale
Speaker 1: to back Solona Push. So we get another publicly list
Speaker 1: the company that is launching a digital asseid treasury strategies.
Speaker 1: So Nasdaq listed company Forward Industries file for an at
Speaker 1: the market equity offering program. Wow, that's a mouthful of
Speaker 1: up to four billion dollars, giving the company flexibility to
Speaker 1: sell shares over time to support its Salona focused treasury strategy.
Speaker 1: On Wednesday, Forward Industries announced that the program will allow
Speaker 1: it to issue and sell common stock through sales agent
Speaker 1: Canter Fitzgeral. The offering is being made under an automatic
Speaker 1: shelf Registration statement followed the us SEC, and automatic shelf
Speaker 1: registration allows certain large publicly traded companies to quickly raise
Speaker 1: capital with flexibility. So we're seeing companies getting creative here,
Speaker 1: and folks, these digital acid treasury companies are I mean,
Speaker 1: it's bullish what they're doing. They're buying the assets that
Speaker 1: you hold. That's going to create a lot of supply
Speaker 1: shock and scarcity for many of these tokens, and they're
Speaker 1: buying billions of it. So this is where you want
Speaker 1: to pay it. Who's buying, what are they buying, and
Speaker 1: you want to make sure you're holding those assets. So
Speaker 1: I hold Salon in my portfolio, I hold XRP bitcoin
Speaker 1: e theorem, I'm diversified, and my portfolio is doing really
Speaker 1: well as a result of those assets. So we continue
Speaker 1: to see really really big stuff here. Here's another example, Metaplanet,
Speaker 1: which is Japan's version of micro strategy or strategy. They're
Speaker 1: expanding their bitcoin treasury strategy with new US Japan units,
Speaker 1: so this is interesting. Metaplanet did Japanese hospitality and real
Speaker 1: estate group turned bitcoin treasury companies, ramping up its crypto
Speaker 1: strategy with the launch of two new subsidiaries, one in
Speaker 1: the US and one in Japan. In a Wednesday post
Speaker 1: on x the Tokyo based firm announced the establishment of
Speaker 1: Metaplanet Income Corp, a wholly owned US subsidiary based in Miami,
Speaker 1: with an initial capital of fifteen million dollars. According to
Speaker 1: its disclosure, the unit will focus on bitcoin income generation
Speaker 1: and derivatives trading, creating a structural separation between Metaplanets core
Speaker 1: bitcoin home holdings and revenue generating operations. So again, these
Speaker 1: folks are getting creative, they're expanding, They're doing a lot
Speaker 1: of capital raises buying these assets. So very bullish, but
Speaker 1: I do want to issue a word of caution that
Speaker 1: you've probably heard me say before. A bubble is forming here.
Speaker 1: So this is why you want to make sure you
Speaker 1: have a plan that we are going to exit this
Speaker 1: market before we hit the bear market in some of
Speaker 1: these companies, not all. Some are not going to do well,
Speaker 1: just going to be some blow ups, and it happens
Speaker 1: in every bear cycle, right, So I don't want to
Speaker 1: be holding any assets on the way down when this
Speaker 1: is happening. So just again, I'm not hoping for this,
Speaker 1: I'm not wishing for this happen. I just see the
Speaker 1: writing on the wall, and I think many of you
Speaker 1: will as well. When leverage is being used like this
Speaker 1: at a high rate by many different companies, and everybody's
Speaker 1: trying to raise to get their stock arbitrage, you know,
Speaker 1: their price up from holding the asset. Something's not gonna
Speaker 1: go right, and not every company's you know, ran the
Speaker 1: same way at the same standard, same CEO, making the
Speaker 1: right decisions things like that. So again, make sure you
Speaker 1: put your thinking cap on here, and if you are
Speaker 1: buying the stock of some of these companies, know what
Speaker 1: you're doing right, because it's it's gonna get tough in
Speaker 1: the bear market. Some, like I said, will do well,
Speaker 1: especially those that have like proof of steak assets like
Speaker 1: Ethereumarcellona on their balance sheet because they can keep earning
Speaker 1: the rewards to the bear market. But you know, I'm
Speaker 1: a bit concerned about the bitcoin companies because there's no yield,
Speaker 1: natural yield baked in there. So anyway, I digress. Just
Speaker 1: keep an eye out on this. But folks, shows not over.
Speaker 1: Bull markets still on. Be patient. Things are moving in
Speaker 1: the right direction. We are seeing mass adoption and building
Speaker 1: like never before. And of course Congress getting ready to
Speaker 1: get MARCRA structure bill pass into law, so it's going
Speaker 1: to be an exciting queue four. In my opinion. That's
Speaker 1: the news. Folks. Let me know what you think. Leave
Speaker 1: your thoughts and comments below. A great way you can
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Speaker 1: It's one hundred percent free. Check out my book on Amazon,
Speaker 1: it's available in paperback and digital, and my course at
Speaker 1: mycryptocurse dot com. Folks, I appreciate you all, Thank you
Speaker 1: so much for tuning in, and I'll talk to you
Speaker 1: all later